Maximizing Our Potential - Laurentian Bank Releases Its 2013 Annual Report
MONTREAL, Dec. 11, 2013 /CNW Telbec/ - Laurentian Bank is pleased to announce
that its Annual Report for the fiscal year ended October 31, 2013 is now
available on its Web site (laurentianbank.ca) under the Laurentian Bank tab in
the Investors section.
Within an economic context marked by low interest rates and new regulatory
constraints, Laurentian Bank succeeded in posting record results for a seventh
consecutive year, exceeding the $150 million mark in adjusted net income for
the first time in its history. More specifically, the Bank's adjusted net
income totalled $156 million in fiscal 2013, up 11% from the previous year.
"Of course, these solid results were not achieved by accident," underlined
Bank President and CEO, Mr. Réjean Robitaille. "They are directly
attributable to the complementarity and geographic diversity of our
activities, the positive impact of our acquisitions and partnerships, our
quality of execution, and our highly targeted strategy. Our positive
performance also translated into a 52% increase in the dividend paid to our
shareholders over the course of the past five years."
2013 Highlights
-- Launch of leasing products to the line of financing solutions
offered to commercial clients, providing businesses across
Canada with an alternate means of acquiring equipment;
-- Addition of new specializations for business financing
activities especially in the food processing, metals processing
and aeronautics sectors;
-- Establishment of partnerships with the FADOQ network, the
largest federation of people aged 50 and over in Québec, and
the Réseau des ingénieurs du Québec;
-- Reinforcement of Laurentian Bank Securities and Capital
Markets' presence in the Institutional Equity and Fixed Income
markets;
-- Pursuit of the integration of MRS Companies and AGF Trust.
Three Strategic Pillars: Focus, Agile Growth and Execution
Three fundamental pillars serve to guide the Bank in making its selective
investments, in advancing its growth, and in furthering its continuous
development. Through its focus, the organization is able to gain extensive
client knowledge, to understand how to best serve them, and to invest in the
best possible ways. For their part, a culture of proximity and a flexible
organizational structure provide the Bank with the agility needed to foster
its development. Finally, the organization's effective business plan and
proactive risk management practices form the basis of its excellence of
execution.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution whose activities extend
across Canada. Recognized for its excellent service, proximity and simplicity,
the Bank serves one and a half million clients throughout the country. Founded
in 1846, it employs some 4,000 people whose talent and dedication has made it
a major player in numerous market segments. The institution has $34 billion in
balance sheet assets and more than $37 billion in assets under administration.
Laurentian Bank distinguishes itself through the excellence of its execution
and its agility. Catering to the needs of retail clients via its extensive
branch network and constantly evolving virtual offerings, the Bank has also
earned a solid reputation among SMEs, larger businesses and real estate
developers thanks to its growing presence across Canada and its specialized
teams in Ontario, Québec, Alberta and British Columbia. For its part, the
organization's B2B Bank subsidiary is a Canadian leader in providing banking
and investment products and services to financial advisors and brokers, while
Laurentian Bank Securities is an integrated broker that is also widely known
for its expert and effective services nationwide.
SOURCE Laurentian Bank of Canada
Gladys Caron Vice-President, Public Affairs, Communications and Investor
Relations Office: (514) 284-4500, ext. 7511 gladys.caron@banquelaurentienne.ca
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CO: Laurentian Bank of Canada
ST: Quebec
NI: FIN FIN ERN
-0- Dec/11/2013 19:10 GMT